The Board of Poznańska Korporacja Budowlana Pekabex S.A. _ “Issuer” _ informs that today the subsidiary of the Issuer – Kokoszki Prefabrykacja S.A. _ “Company” _ concluded with the Bank Powszechna Kasa Oszczędności Bank Polski S.A. _ “Bank” _ Interest Rate Swap _IRS_ transaction involving the hedging of a fixed interest rate loan granted by the Bank to the Company, of which the Issuer informed in the current report No. 4/2017 on 6 March 2017 and the “Loan” _.
The subject of the transaction was the conversion of the variable interest rate to the fixed rate loan in the amount based on the agreed fixed interest rate WIBOR 1M in the amount of 2.57. The fixed interest rate will apply in the period from December 1, 2017 to January 1, 2027, ie during the repayment period of the Credit in accordance with the loan agreement. The transaction was concluded for the entire remaining loan amount, ie PLN 28,434,782.64.
The conclusion of IRS transactions was aimed at securing the Company against the increase in the amount of future interest payments, which could have occurred as a result of raising interest rates.